The second-quarter net profit for the owner of Travelers International Hotel Group Inc., which operates a Newport World Resort casino and leisure complex in the Philippine capital of Manila, came in at $423 million. The figure is “a 38-fold increase from the previous quarter,” parent company Alliance Global Group Inc said in a Wednesday release.

According to a press release filed with the Philippine Stock Exchange, Traveler International “has seen a significant improvement in its overall performance in the second quarter of 2024.”

In the three months to June 30, Travelers International’s total revenue rose 17% quarter-on-quarter to 10.9 billion PHP. 동행복권파워볼

The increase was “mainly due to a sharp 20% quarter-on-quarter increase in total gaming revenue,” the parent said.

Travellers International’s non-gaming division “maintained sales growth of 8% quarter-over-quarter, with an 84% increase in average hotel occupancy” primarily in hotels and retail

In the second quarter, the Newport World Resort complex “recorded 44,000 visitors, breaking a new daily average,” according to the update.

Newport World Resort currently has five international hotel brands: Marriott Manila Hotel, Sheraton Manila Hotel, Hilton Manila, Hotel Okura Manila, and Holiday Inn Express Manila. It offers a total of 2,742 rooms.

In June, Alliance Global confirmed a leadership change at its Newport World Resort, attributing it to the conclusion of its “one-year transition plan.”

In the first half of 2024, the Travelers International owner had a net profit of PHP 434 million, compared with a total revenue of PHP 201 billion, according to data filed Wednesday.

Alliance Global said in July that Travelers International will “spend $10 billion of PHP primarily on ongoing expansion projects within the Newport World Resort complex” this year.